Gyrodyne Estimates Liquidation Net Assets at $10.75 per Share, Pursues New York State Sale
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Gyrodyne preliminarily estimated net assets in liquidation at $10.75 per share as it pursues a potential sale of Flowerfield acreage to New York State.
Key Highlights:
- Preliminary September 30 net assets in liquidation were $10.75 per share, down $1.55 from June 30, primarily reflecting a lower estimated value for a potential State sale.
- Gyrodyne is negotiating a sale of undeveloped Flowerfield acreage to New York State and a contingent termination of its B2K agreement; no definitive agreements have been reached.
- The company believes a State sale could close in the second half of 2027, while unresolved site-plan issues create material risk the B2K transaction will not close by the end of 2028.
- Staff reductions are expected to save approximately $620,000 over the remaining liquidation period; occupancy was 80% at June 30, 2026.
Original SEC Filing: Gyrodyne, LLC [ GYRO ] - 8-K - Nov. 05, 2026
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